Spanish HR software leader Sesame has signed a €50 million financing agreement with BBVA Spark, the innovation and growth unit of BBVA, to accelerate its international expansion across Europe while channeling its own capital toward advancing artificial intelligence (AI) for human resources. The deal represents one of the largest non-dilutive financing rounds for a SaaS company in Spain to date.
Founded in Valencia in 2015, Sesame has become one of Spain’s fastest-growing technology companies, known for its comprehensive people management and digital HR platform. The company’s software automates key HR functions, including attendance tracking, payroll, onboarding, and performance management, while increasingly integrating AI to optimize workforce planning, employee engagement, and predictive analytics for talent retention.
With €20 million in annual recurring revenue (ARR) and over 15,000 corporate clients, Sesame has established itself as a trusted HR technology partner for both small and medium-sized enterprises (SMEs) and large organizations.
Through the agreement with BBVA Spark, Sesame will deploy new capital to accelerate market entry into Italy, Portugal, France, and Germany, building on its existing footprint in Spain, Mexico, and Brazil. The goal is to consolidate its position as a pan-European leader in human capital software and to develop further its AI-powered tools that help organizations make better, faster people decisions.
Unlike traditional venture or equity-based funding, BBVA Spark’s financing model provides non-dilutive growth capital, allowing Sesame to scale customer acquisition and international sales without giving up ownership. This represents a significant evolution in the European SaaS ecosystem, where companies often face trade-offs between growth financing and shareholder control.
KEY QUOTES:
“This new instrument is a genuine breakthrough for the European technology ecosystem. It will allow us to scale up internationally while continuing to focus on innovation in artificial intelligence applied to talent management.”
Albert Soriano, Chief Executive Officer, Sesame
“We share a vision with Sesame of sustainable growth that is data-connected and people-centric. This deal shows that a different way of financing growth is possible, enabling fast access to capital in line with global expansion.”
Miguel Ángel Alcalá, Head of BBVA Spark Spain
